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words from hillary clinton lately. the state department tells us she is still recovering from the flu and concussion. but this isn't like her. is this her illness worse than we know? or is something else going on? first, though, the journal news is the newspaper for new york suburban westchester county. that paper is becoming the news all by itself after it decided to publish the names and addresses of all of the known gun permit holders in its readership area. the paper justifyding publication, the statement saying the massacre in newtown remains top of mind for many of our readers. in the past week conversation on our opinion pages and website has been focus order gun control. readers are understandably interested to know about guns in their neighborhoods. we obtained the names and addresses of westchester and rock land residents that are licensed to own handguns through routine freedom of information law public records request. here now is david, huffington post publisher blogger and lenny mccalter, contributor for the chicago defender. good to have you here. lenny, nothing illegal
go up to 39.6%. the clinton era rates on income on $450,000 for couples. the deductions would be faced out. personal exceptions and deduction values would be phased out for incomes of $230,000 more and $300,000 for married couples. estate tax would go up and we would see an extension of unemployment benefits and they would be preventing the sharp drop for doctors under medicare. and the alternative minimum tax and capital gains and those are the outlines of the tax portions of the deal still not buttons up yet. >> we will see you later in the program. we appreciate everything you have done today and we have more information from amon. what are you hearing? >> we are expecting that vice president biden might be coming up here to talk to democrats. a lot of these members do not like being here on new year's eve. they are working through a lot of the scoring details of a new package here. but he expects that there might be a vote in the next couple of hours in the senate. take a listen. >> it is not something that any of us would say oh, i love it. i don't live love it but i thin
. secretary clinton has indicated that she is going to implement all of them. what i -- my message to the state department has been very simple. and that is we're going to solve this. we're not going to be defensive about it. we're no pretend that this was not a problem. this was a huge problem and we're going to implement every single recommendation that's been put forward. some individuals have been held accountable inside of the state department and what i've said is that we are going to fix this to make sure this does not happen again because these are folks that i send into the field. we understand that there are dangers involved. but when you read the report and it confirms what we had already seen based on some of our internal reviews, there was just some sloppiness, not intentional, in terms of how we secure embassies in areas where you essentially don't have governments that have a lot of capacity to protect those embassies. so we're doing a thorough review. not only will we implement the recommendations that were made, but we'll try to do more than that. with respect to w
some breaking news tonight on hillary clinton. we'll have that next up. and please, generally, this is a good night to remind, please don't forget, free market capitalism, the best path to prosperity. let's reward the successful. this is america. i'm kudlow. we'll be right back. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and sui
campaigned on it, $250,000 threshold for family income for the return to the clinton jer gentleman tafrm rates of 39.6. republicans didn't want tax increases on anybody. democrats wanted more on estate tax. they are getting it. not as much as the president proposed in his budget. so the magic of these deals is that everybody can describe something as victory. and if we get it, if democrats ultimately can come to an accord with republicans on the length of the deferral of the automatic across the board cuts, that's the final key. and somebody's going to have to give on that. democrats are holding firm because they think they've given more. >> john, can you reiterate for us, please, the details of the deal as your reporting has indicated. >> on the biggest piece, the middle class tax cuts, there is a tentative agreement to raise the top rate on taxes to 39.6, clinton era rates for individuals who make over $400,000 and couples who make over $450,000. that's the threshold. also above the threshold, cap gains and dividends from 20% to 15. those are the basics on middle class taxes. on estate
it on the special that we did last night. secretary of state hillary clinton is in a new york hospital this morning being treated from a blood clt clot resulting from a concussion you suffered earlier this month. she had been expected to return to work this week. >>> coming up, deal or no deal? we're going to look beyond the fiscal cliff and what it will mean for the markets. we have jim o'neill. he's going to join us to talk about whether he is bullish for the start of 2013 and how much the fiscal cliff is playing into his outlook. >>> welcome back to "squawk box" this morning. take a look at futures for the day, the s&p is up a little over 7 points as we await to see what happens with the fiscal cliff. >> it is the last trading day of the year. how will the global marketses react to our domestic drama? calling in right now on the squawk news line is jim o'neill. it's great to be speaking with you this morning. i know we made it through the mayan apocalypse, but will we make it three through the fiscal cliff, as well? >> gosh, i don't know. i keep exchanging my mind about this every day in the pas
to be you could go back to clinton and gingrich. they wanted to come to accommodations, they both got what they want. now boehner wins, obama loses, obama wins, boehner loses, we're not good at these politics. but the zero growth premise will have long-term implications for investors potentially. >> usually not--the globalization makes it tough. but with the thing that's scary about globalization, there's also 2 billion consumers that are going to buy coca-cola and levis, even though we've got to bring a lot of people into the middle class. you can look at it, there's good and bad. >> i could argue both sides. >> we got to go. comments questions, anything you see on squawk e-mail us @squawkcnbc.com. you can also follow us on twitter. coming up, beyond the fiscal cliff, 90 new members of congress are on the way to washington and the new year. we're going to what the new makeup of capitol hill will mean for taxes, spending and everything else. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how mu
they are a news show, talking about during the clinton years we had no debt. just the notion of a budget surplus versus a national debt gets lost on many. i don't know that we're going to have a chance until the leadership really tries to be honest with the public. >> we didn't have a surplus if you count the intragovernmental debt of social security and medicare. we had no surplus during those clinton years, you know that. >> that's correct. >> one thing that's clear it won't help our deficit and debt levels going forward if the economy goes into recession so while you're right there's not a solution here that pleases everyone, part of the problem is if this solution includes significant near-term spending cuts, it only makes the long-term problem worse. >> right. so if you don't want to have any contraction at all, then we're going to end up just like some in southern europe. we'll have to wait until after the event occurs, and then you're going to have the press going oh, my god, how did this happen? just like today, i can't believe how many channels are talking about where was the entitlemen
back to the clinton level tax rate. >> that's all ware doing and you can res tro actively fine tune the things you don't like about what's going on. >> stop worrying. happy new year. >> happy new year, you and natasha and the schlossbergs. >> coming up, the major financials showing growth in 2012. can they expect a tougher business environment in the new year? we will break it down next. and then the impact on the insurance market and we will talk to eric dinallo, the former new york insurance superintendent. >> my name is allen shortal founder of this corporation. if the fiscal cliff doesn't get resolved no question the u.s. economy will go into recession. we closed down our manufacturing in china and relocated it in the usa. for other companies to follow our lead, they need to trust our leaders in washington will actually lead. think outside the box, great incentive for businesses to invest in the u.s. economy. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicate
the clinton administration. >> we'll show people right now that you like homebuilders and you like retailers, right? put that up. heebner likes retail, home building, what's the third one? automobiles. >> all early-cycle stocks. i like these stocks because the economy is going to be -- has a multi-year period of growth ahead of us and the biggest driver is rising housing prices and increase in residential construction and apartments and single family. we have an increasing shortage of housing in this family and we cut the production of houses way below the household formation and the industry is going to -- the construction industry will grow and that's going to stimulate the economy because its multiplier affects it. the biggest single impediment has been the huge decline in housing prices for the last five years. >> this is the first time since 2006 -- 2012 would be the first time since 2006 that home prices actually rise from a year ago. so one little piece of good news tonight. guys, thanks so much for joining us. ken heebner and brian kelly, you can see him on fast money. >> the markets
'll recap what those are. a higher clinton era top rate of 39.6% for individuals above $400,000 income, couples above $450,000 income. capital gains and dividend rates going from 15% to 20% for people in the top income brackets. you've got an estate tax that goes from 35% to 40% for estates valued at over $5 million. you've got a phaseout of deductions and tax credits at incomes above $250,000 for individuals, $300,000 for couples. that is a concession for the president. and our colleague steve leisman has been also doing reporting on this. he just spoke to me by phone as i was preparing to go on with a source familiar with the talks who noted a wind energy tax credit is preserved as the president eluded to in his remarks. also depreciation for businesses with spending money on new equipment. all of those things arement wills of the tax deal, but until they get the sequester, the budget elements worked out, the deal's not going to be finished. >> now, the deduction phaseout. this is relatively new. any idea at this point which deductions we're talking about and any timetable for them?
of votes in 2008 by a lot of votes that were not just -- >> that is so. but clinton did quite well but only because ross perot was running. very complicated. in terms of it being a national figure, someone reaching across the aisle, you haven't seen that. one of the things that h.w. did while he was in office, he he cut a budget deal raising some taxes with some republican support. >> and that's what made his legacy as a one-term president. >> and that's what killed him. but he was at that turning point when conservatives were no longer willing to accept that. conservatives didn't complain so much earn him. so things were changing the the point being we've moved on from that period in which you can have that sen trit government leadership. >> views have changed. it does look like we could be headed over the cliff. we don't have much time left. we'll see retroactively if that allows for a deal to be reached. >> yes. >> tim stanley, going through all of this with us. an author, as well. >> merry christmas. >> and to you. >>> now, former u.s. president is. >> intensive care at a houston hospit
is that if the threshold goes up to that level, the top income tax rate would go all the way back up to the clinton era rate of 39.6%. not some mid point of 37% talked about a couple of weeks ago. secondly, that it would be accompanied by more revenue from the estate tax than is happening under current policy. remember, current policy is 35% tax on estates of $35 million or more. democrats are going to be insisting on somewhat more revenue than that, if not all the way up to the level in president obama's budget. finally, that an agreement would include a significant extension of unemployment benefits. remember, there are 2 million people who would lose about $300 a week if this fiscal cliff passes and there's no deal whatsoever. guys, back to you in d.c. >> all right. john harward, thanks for keeping us posted. we're about six minutes before the bell rings in the final session of 2012. let's bring in matt. good to have you with us. the futures are not too bad. we're coming off five straight losing streaks. on friday we saw the vix post the low of the session. what do you think it will happen today? >>
to the clinton-era rate. all that raises more revenue and is a tax increase from what they were. if you measure it against current law which was that on january 1 all of those bush tax cuts were going to expire, we were going to put -- pull in a lot more money. and so that costs the government money. it was -- it was negative for deficit reduction measured against that. coupled with the fact that you just mentioned, the alternative minimum tax, permanently shielding tens of millions of people from a very large increase in their taxes which is something that congress can reason and say, well, we never intended that. alternative minimum tax was supposed to affect millionaires, that's true. that's very expensive. yes, the doc fix is also expensive. what they were doing in the so-called dox f doc fix is prev physicians under medicare from plummeting which would cause doctors not to participate in medicare. so while doing things that raise money, when measured against what was going to happen if they did nothing, they cost themselves a lot of money. >> what's -- dividends are going to be tasked -- y
to the clinton era rate of 39.6% on incomes of $400,000 for individuals, $450,000 for married couples. on the estate tax, the inheritance tax, you see that going from 35% to 40% on estates of $5 million. although the value of that exemption is indexed for inflation. you see on capital gains and dividends the rate going from 15% to 20% on those top earners. now, secondly, you see a round of other changes, you see on the doc fix for medicare. you prevent the decline in medicare payments to medicare providers. you extend unemployment benefits for a year. you see that the payroll tax does not continue. that is going to be a tax increase for average families. those are some of the details that we've got on this bill. but it does not deal with the debt ceiling. it does not put off the sequester indefinitely. the -- it's only for two months we put off the sequester. so we're going to have to see how that is resolved. the alternative minimum tax was also permanently fixed. that's very expensive, because it protects tens of millions of families from having their incomes go up because they woul
rates revert to where they were in the clinton years and remember that only affects half of the taxpayers in the country because only half of the people pay income tax so it's not 97%. it's actually only the top half. and that may not be so -- such a bad consequence from his point of view. it also brings in a significant amount of revenue, which allows him to spend in the way that i think he'd like to do, so it could take a good bit of pressure off of him and, you know, i'm just concerned that he may not feel the same pressure to keep taxes low as the rest of us do. he probably is not a believer that high tax rates would impede the economy at least not to the same extent that i believe that. >> yeah. finally, you know, a lot of the bulls who are encouraging investors to get into the market over the next 12 months say that cap x would come back even with a band-aid, that companies with all their cash and their refinancings have money to spend and that they will spend it in the new year. are you seeing any empirical evidence that suggests that is actually so? >> well, i'm n
Search Results 0 to 15 of about 16